THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. WIRE NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
QUEBEC CITY, Quebec, Aug. 15, 2018 (GLOBE NEWSWIRE) — ORLETTO CAPITAL II INC. (the “Corporation”), a capital pool company, is pleased to announce the closing, on August 15, 2018, of its initial public offering which consists of (i) the issuance of 4,000,000 common shares of the capital stock of the Corporation (the “Common Shares”), at a price of $0.10 per Common Share, for a total amount of $400,000, (ii) the grant of non-transferable options to the agent, entitling the holder to acquire 400,000 Common Shares, at a price of $0.10 per Common Share, up to August 14, 2020 and (iii) the grant of 680,000 stock options to the directors and officers of the Corporation to purchase an aggregate number of 680,000 Common Shares, at a price of $0.10 per Common Share, during a period of 5 years from the date of grant or for a shorter period as described in the stock option plan of the Corporation.
At the same time, the Corporation announces the listing of its Common Shares on the TSX Venture Exchange under the ticker abbreviation « OLP.P ».
The Corporation now intends to utilize the proceeds of the offering to identify and evaluate assets or businesses for the purpose of announcing a qualifying transaction, such as stipulated in Policy 2.4 of the TSX Venture Exchange Corporate Finance Manual.
For further information, please contact:
Mr. Benoit Chotard
President
ORLETTO CAPITAL II INC.
Telephone: 778-996-4676
Email: [email protected]
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements contained in this press release involve known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by the said forward-looking statements.